Tamilnadu Petroproducts Q1 standalone net remains flat
Tamilnadu Petroproducts Ltd. (TPL) reported standalone net profit for the June quarter remained flat over the year earlier period to ₹13 crore, due to increase in crude oil price.
Revenue from operations contracted by ₹11 crore to ₹461 crore, even as cost of materials increased by ₹4 crore to ₹279 crore, the industrial intermediate chemicals manufacturer said in a statement.
“Our first quarter was challenging primarily due to increased raw material costs and absorbing the cost hike to maintain long-term customer relationships,” said Vice Chairman Ashwin Muthiah.
Looking ahead, an unwavering focus on operational efficiency and cost optimization will remain our key strategy to navigate external challenges effectively,” he said.
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